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What should I sell? (need advice please)

post #1 of 16
3/7/10 at 2:11am
Thread Starter 
I need to pay ~$5000 of student debt immediately, and I can't get the money except by selling some of my stocks. I'm honestly looking for advice here from some of the older members - I know there's a huge amount of expertise on this board, and a lot of members here will be familiar with at least some of the companies I own, if not all. Here are my options, in no particular order:

1. Eagle Plains Resources (EPL)
2. Silvermex Resources (SMR)
3. Impact Silver (IPT)
4. Barkerville Gold Mines (BGM)
5. Encore Renaissance Resources (EZ)
6. Victoria Gold (VIT)
7. Trelawney Mining (TRR)
8. Ithaca Energy (IAE)
9. 4 ounces of physical gold

I own some other stocks also, which I have not listed as I am absolutely not interested in selling them right now. I'm leaning towards EPL or EZ as I'm at a loss on those, management hasn't done what they promised, whereas all the others I have a profit, and should continue to do well as long as gold holds up.

Even if you don't know all the companies I'd appreciate advice if you see one that clearly looks like a sell right now.
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post #2 of 16
3/7/10 at 2:22am
Thread Starter 
Paying the debt is no problem it's just that I don't know what to sell to pay it with. I invest for the long term and don't sell anything very often. I have less than $1000 in my bank account, and keep 100% of my savings in stocks, Canadian bonds, and physical gold and silver. I keep just enough of my paycheck to live off and invest the rest
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post #3 of 16
3/7/10 at 2:54am
sell the physical gold for now imo, trr will pullback a little more imo. ez and epl will stall for some time...not sure about the rest
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post #4 of 16
3/7/10 at 4:43am
question: is the student debt (interest) tax deductible?
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post #5 of 16
3/7/10 at 5:46am
Sell your physical gold, and the remainder off the silver resource companies.

And to be honest, if this is your entire portfolio I'd shift some assets into a sector other than resources. When commodities go on a downward trend you'll want something that's not correlated to them. Maybe some safer financials? Drop a few grand into a financial index ETF and let it just sit there and pay you dividends while your resource companies give you the growth you seem to be seeking.
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post #6 of 16
3/7/10 at 7:32am
Cut the losers and let the winners ride?

And as others have already mentioned, I would sell the physical gold too.
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post #7 of 16
3/7/10 at 10:10am
Hmmm to each his own - i would not be selling physical gold at this stage, US economy is a mess and the US dollar being propped up. Safe financials? Maybe a canadian bank , but as we know US banks are failing to beat the band , and analysts are saying this year will be worse than the last. US commercial real estate is in serious trouble and several US Cities basically bankrupt , with only declining tax revenues to look forward to in the near future.
I am sticking with resource plays- real hard assets will continue to keep their value, bankrupt banks and mortgage companies will fall by the wayside as they have been for a few years now.
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post #8 of 16
3/7/10 at 2:13pm
sell them all hahahahaaha
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post #9 of 16
3/7/10 at 3:41pm
Thread Starter 
Quote:
Originally Posted by fireshot View Post
question: is the student debt (interest) tax deductible?
I believe the interest is tax deductible, not the original debt though.
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post #10 of 16
3/7/10 at 3:44pm
Thread Starter 
Quote:
Originally Posted by Marty View Post
Sell your physical gold, and the remainder off the silver resource companies.

And to be honest, if this is your entire portfolio I'd shift some assets into a sector other than resources. When commodities go on a downward trend you'll want something that's not correlated to them. Maybe some safer financials? Drop a few grand into a financial index ETF and let it just sit there and pay you dividends while your resource companies give you the growth you seem to be seeking.
Like I said I have some stocks I have not listed because I don't want to sell them right now, but you're right that most of my portfolio is resources, particularly gold. I don't own any financials but am thinking of buying BNS or a financial etf.

So it seems like most people think I should sell the physical gold. Anything else?

Thanks for the replies
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post #11 of 16
3/7/10 at 4:20pm
The sell trigger is getting really hot for me on EZ

This stock could easily go up with decent managing or news...

Seems like they're just releasing to keep a given interest in the stock...I don't like that

I'de keep the physical gold as i think gold will soar to new highs in 2010

Im no expert tough..
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post #12 of 16
3/7/10 at 7:32pm
Quote:
Originally Posted by E. Real View Post
Like I said I have some stocks I have not listed because I don't want to sell them right now, but you're right that most of my portfolio is resources, particularly gold. I don't own any financials but am thinking of buying BNS or a financial etf.

So it seems like most people think I should sell the physical gold. Anything else?

Thanks for the replies
Why don't you just take out money from stock account and go on margin?
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post #13 of 16
3/7/10 at 11:37pm
Thread Starter 
Quote:
Originally Posted by 3junior View Post
Why don't you just take out money from stock account and go on margin?
My account cannot currently be on margin, though I suppose they might let me make that alteration. I don't know how long it takes to change that though, and I need to sell something tomorrow to pay by the end of the week...
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post #14 of 16
3/8/10 at 12:19am
I can only tell you to diversify yourself better. And dont get attached. You can always buy back in. Also try to always have cash available for situations like the one your in and more importantly for the next big opportunity.
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post #15 of 16
3/8/10 at 4:06am
Quote:
Originally Posted by E. Real View Post
I believe the interest is tax deductible, not the original debt though.

Is the student loan just starting to begin the repayment stage I guess? I think the loan should be about 4.5%, with the payments automatically set monthly.

If you think you can average a higher gain then the loan, then it would be good to just keep making the payments? (possibly increase the monthly payments).

Since the interest portion is tax deductible.

But if you aren't sure, then definitely pay off the entire loan. It's always smart to pay off loans when you have the assets/cash to do so.
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post #16 of 16
3/9/10 at 5:37pm
Thread Starter 
Just as an update / FYI I sold EZ and EPL yesterday - still have a small position in both companies, and the loan will be paid as soon as the transaction is settled & I have the cash.

Thank you very much to everyone who took the time to reply.

PS ... EZ can't even file their financial statements, I'm sure glad I got out of that one. I sold EPL at .14 and might get back in if it goes any lower and I have the money
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